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Lease Financing Availability

One of the biggest problems to affect the vehicle tracking sector in 2009 was the difficulty in obtaining lease finance for customers wanting to buy tracking systems. Lease finance spreads the cost of a tracking system over the duration of the contract period and is often the preferred way to buy vehicle tracking, in most cases leasing requires no capital outlay and offers return on investment from the word go.

The availability of business leasing is improving, especially in the SME sector but not for tracking suppliers. www.TrackCompare.co.uk surveyed the major lease underwriters and found that although the lending criteria for potential customers has relaxed, the criteria for vehicle tracking providers has not and many underwriters are limiting their activities to ‘the big 5’ tracking companies.

The underwriters have reported significant losses in the vehicle tracking sector and now see it as a high risk market as should the tracking company go under, the tracking system becomes unusable and there are is little tangible value that can be recovered.

Customer Confidence Damaged

One of the biggest casualties of 2009 are without doubt the customers that bought vehicle tracking systems that were subsequently switched off when their parent companies closed. Many customers have been left with debts of thousands with no tracking system to use.

Tracking horror stories have spread like wildfire and customer confidence in tracking systems and their providers has been seriously affected. Efforts by tracking companies to offer ‘no risk’ financing systems have gone some way to restoring confidence but often means higher costs for the customer and their long term feasibility is in some cases questionable.

What Does 2010 Hold For Tracking

The vehicle tracking market is expected to double by 2012 which is great news. The tracking sector does however have a big job to do in restoring the confidence in potential buyers and suppliers should expect them to be more cautious and meticulous in their choice of partner.

The job of the smaller players and new companies in the tracking market will be more difficult in 2010, being unable to offer lease finance will make selling to companies who need a monthly payment option harder, unless they have enough financial backing to underwrite the upfront costs themselves.

This will inevitably affect choice and competition for customers, tracking pricing has fallen significantly in recent years due in part to cost reductions in technology and data but the key driver has without doubt been competition.

Despite this, from the perspective of potential tracking customers there has never been a better time to consider tracking. There are more products, more finance options and more competition in the market than ever before. By choosing the right tracking partner a business can revolutionise its operation overnight and the massive benefits that vehicle tracking systems can bring should not be overshadowed by the problems of 2009.

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The men quickly took control of BSM when they took over just shortly after it was purchased from Arques.

They intend to hire about three thousand new driving instructors to help further extend the Bristol based business across Britain in just a two year period.

The only real problem is finding drivers, as Shafi stated that instructors are self-employed and people are wary in any economy about entering a career as a self-employed business person.

In fact, according to Shafi, since the recession the amount of pupils has not reduced, but instead the lack of instructors causing him to reduce the cost of training courses for those interested in becoming BSM driving instructors.

At the moment the BSM holds about 10% of the UK driving school market and the new owners hope to expand this number across the UK by reopening outlets that were previously closed by the former owners.

The men secured deals with Fiat and Barclays in February for car provisions over the next four years and now only need instructors to see their dream become a reality.

Kesting is formally the general manager of a subsidiary of Arques in Spain and Shafi is the former managing director of Auto Windscreens.

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The findings from a motors.co.uk poll of 1,200 drivers, found that 44 per cent (529) ‘sometimes’ natter to their Nissans with a further 31 per cent (373) of motor mouths claiming to ‘always’ converse with their car.

And following in the footsteps of Basil Fawlty and Knightrider, a surprising 21 per cent of men admit to talking to their cars at least ‘sometimes’. Only a silent minority, 25 per cent (298) of motorists claim never to gossip with their Golfs.

But why are so many drivers babbling to their BMW’s? The rise in the popularity of in-car sat navs could explain why more motorists have become comfortable communicating with their cars.

However not all car talk is idle chatter, some luxury models like the Jaguar XF now have a voice activated command system giving drivers a reason to mutter to their motor and the Mercedes E-class has a voice warning to tell drivers about upcoming road signs. Even the humble Austin Maestro MG from the 1980’s had a vocal warning when running low on petrol.

According to another survey from motors.co.uk, a quarter of drivers (26 per cent) admit to having a pet name for their motor such as Pablo the Prius, Connie the Corsa and Sexo the Saxo. This was despite only (21 per cent) of people giving their partner a similar term of endearment.UK motorists are talking to their Toyotas and speaking to their Seats according to new research by one of the UK’s largest used car websites which revealed that 75 per cent of motorists admit chatting to their cars.

The findings from a motors.co.uk poll of 1,200 drivers, found that 44 per cent (529) ‘sometimes’ natter to their Nissans with a further 31 per cent (373) of motor mouths claiming to ‘always’ converse with their car.

And following in the footsteps of Basil Fawlty and Knightrider, a surprising 21 per cent of men admit to talking to their cars at least ‘sometimes’. Only a silent minority, 25 per cent (298) of motorists claim never to gossip with their Golfs.

But why are so many drivers babbling to their BMW’s? The rise in the popularity of in-car sat navs could explain why more motorists have become comfortable communicating with their cars.

However not all car talk is idle chatter, some luxury models like the Jaguar XF now have a voice activated command system giving drivers a reason to mutter to their motor and the Mercedes E-class has a voice warning to tell drivers about upcoming road signs. Even the humble Austin Maestro MG from the 1980’s had a vocal warning when running low on petrol.

According to another survey from motors.co.uk, a quarter of drivers (26 per cent) admit to having a pet name for their motor such as Pablo the Prius, Connie the Corsa and Sexo the Saxo. This was despite only (21 per cent) of people giving their partner a similar term of endearment.

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